CNET Purchases Software Site
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CNET agreed to pay WinFiles owner Jenesys LLC $5.75 million once the transaction closes and will make an additional $5.75 million payment 18 months after the closing.
WinFiles.com offers a variety of shareware, freeware and demo software for Windows 95, 98, NT and CE. WinFiles will join several other software sites in CNET's network, including Download.com and Shareware.com.
CNET Chairman and Chief Executive Officer Halsey Minor said the acquisition gives CNET a chance to build on the popularity of its software libraries.
Nish Bhutani, vice president of CNET's products group, said the acquisition answers user demand for popular software.
"Software downloading is one of the most popular services we offer. The addition of WinFiles.com will help us continue to grow this key feature of our network," Bhutani said.
The purchase of WinFiles.com follows Monday's purchase of Auction Gate Interactive for $5.8 million in stock.